While the crypto currency market gives signs of revival, the total market value approaches $ 3 trillion. However, many large crypto currencies, especially Bitcoin, continue to be traded in a narrow band. This creates a cautious optimism among investors, while strong signals about the possibility of the upcoming break in technical analysis stand out. In particular, macroeconomic data to be described towards the end of the week may play a decisive role for this breaking.
The market is stuck, Bitcoin is critical
Bitcoin’s stuck in the range of $ 93,000 – $ 95,000 is interpreted by investors as a “pre -storm silence”. In other major crypto currencies such as Ethereum, BNB and Solana, no significant direction change was observed. XRP and Cardano around 2 percent, Dogecoin decreased by 3 percent. Despite this table, the market still maintains its upward potential.
Spot Bitcoin trading funds, which lasted eight -day increase in the $ 56 million output exit shows that profit realization has been activated and some investors have begun to be cautious. However, this mobility can also be a harbinger of fluctuating before a new rise. “Such long -term consolidation periods are often the starting point of serious movements.” Kuptikevich says that the US employment data to be announced on Friday may affect the market direction.
Funding data and political factors stand out
WOO X Research President Pat Zhang shared a remarkable assessment that the narrow band movement in Bitcoin could end. According to Zhang, Bitcoin’s position funding rate has been negative in recent weeks. This indicates that the market may be more willing to purchase. After negative funding rates in the past, serious increases increases the interest in this data. In addition, the fact that large investors have recently increased their positions is preparing the ground for a possible upward breaking.
On the other hand, trade and customs developments on a global scale began to influence the crypto currency market. The US presidential candidate Donald Trump emphasizes a positive progressive trade talks with South Korea, Japan and India and the “optimistic process öz about China, led to some relief in global markets. It is possible for such developments to trigger the orientation of crypto currencies by increasing the risk appetite of the market. Crypto currency investors are expected to focus on both technical indicators and macro data in the coming days.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
